Kellogg (NYSE:K) is about to announce the latest earnings. Ponder this Bear Case Scenario as you contemplate management comments.
Tough economy in Europe and North America. Competition is fierce and hyper. Margins always under pressure. wind to your face stuff.
Over 30% of revenues are from non US sources. Fluctuating FX rates will not be kind to shareholders.
Innovative global offerings are next to zero. Lack of compelling energetic offerings will eventually bite the shareholder not in a nice way.
George Gutowski writes from a caveat emptor perspective.